Churchill Downs Reports Second-Quarter Earnings

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Churchill Downs showed an increase in net revenues and a decrease in net earnings from continuing operations at the close of the second quarter June 30.

The Louisville, Ky.-based company reported net revenues from continuing operations grew 4.1% to $169.9 million, compared with  $163.3 million during the second quarter last year.

The number of race days declined 3.8%, from 132 days in 2006 to 127.

Net earnings from continuing operations were $29.5 million, compared with $34.8 million in the second quarter of 2006. A statement from CDI attributed that to several factors, including executive compensation costs and storm damage to the Fair Grounds and Calder race courses.--Blood-Horse staff

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